Various apparatus and methods have previously been proposed for preheating water in a water heater tank using refrigerant from air conditioning apparatus such as an air conditioner with a non-reversible refrigerant circuit, or a heat pump having a reversible refrigerant circuit. However, such previously proposed apparatus and methods have often proven to be undesirably complex and expensive for use in many applications. It would be desirable to provide such apparatus and methods that efficiently utilize air conditioning apparatus refrigerant heat to preheat water. It is to this goal that the present invention is primarily directed.